Friends Provident is increasing its critical-illness insurance rates.
Guaranteed rates rise by between 5 and 8 per cent, depending on terms. Reviewable rates go up by between 8 and 14 per cent.
The company claims that the changes had to be made as other life offices have moved to raise critical rates.
Head of protection marketing Peter Hamilton says the difference between Friends and its competitors has been too great.
He says: “The reshaping of rates on CI is our way of reining back. We still expect to be top or at least in the top two or three but not by as much.”